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"NA Shale wins 2016 with improved drilling, completion and breakeven price" by Bielenis Villanueva Triana, Senior Analyst (Published by Oil & Gas Financial Journal, December Edition) With the approaching end of 2016, a detail analysis of the North American shale industry during this year clearly shows improved practices across drilling, completion, well performance, well placing and eventually well economics. All key metrics including drilling speed, proppant per stage and EUR per well have increased this year across the main shale oil plays, as shown in Figure 1 to Figure 3. Operators have improved well performance every year for the last five years and such improvements are expected to continue with the activity focused on the core areas of the main shale plays. Read more
"Global E&P: through continued downturn to a balanced market" by Olga Kerimova, Senior Analyst, and Veronika Akulinitseva, Analyst (Published by PESGB Newsletter, December Edition) In 2016, we have witnessed a continued market downturn with oil prices trending below 50 $/bbl, ongoing investment cuts, resulting in production decline in many regions of the world. Yet, some countries still managed to increase output in a battle to protect their market share. This article explains the key industry topics from this year, highlighting short-term supply and demand growth, exploration success and spending trends. Read more
"Oilfield service companies exposed to shale are the winners of OPEC cuts; offshore suppliers will struggle" Rystad Energy analysis shows that as much as 15 billion USD in increased spending will flow into the non-OPEC shale market in 2017. This incremental change comes after the announced OPEC decision to cut production by 1.2 million bbl/d. Non-OPEC shale well services are best positioned with an estimated 10 billion USD of additional spending, followed by drilling contractors with 2.5 billion USD assuming 10,000 wells are to be drilled and completed. Read more
"OPEC cuts; shale positioned to grow with offshore continuing to be the victim" With the announced OPEC cut of 1.2 million bbl/d yesterday, Rystad Energy expects that global liquid production to remain at current levels into next year. At the same time, demand is expected to grow by around 1.3 million bbl/d. This means that the large amount of stored oil will decline considerably in 2017. “This will be the second year in a row in which global oil production fails to grow”, says Espen Erlingsen, Vice President Analysis at Rystad Energy. “Shale is the least vulnerable, while offshore continues to be the victim since OPEC’s decision in November 2014,” he suggests. Read more
"2016 review: A winning year for shale" North American shale development has been a clear winner during 2016 despite the low oil price during the year. Shale operators managed to increase efficiencies during the year, with wells producing larger volumes at lower costs.This has resulted in a very resilient shale oil production in the US, which is estimated to have reached its lowest point during Q3-2016 at 4.09 million bbl/d, after one and a half years of monthly drops. Read more
"A tough year for service companies, but OPEC cuts help the shale exposed" 2016 has been a tougher year for most service companies than 2015, and revenues have continued to fall as much as 27% when compared to 2015 on average. Companies exposed to onshore North American activity have seen their revenues diminish even more. While 2015 was the year that service companies built alliances, 2016 was the year that saw service companies starting to consolidate fully. Read more
Rystad Energy's own Gullkronen awards companies, teams or people, who have shown outstanding achievements on the NCS during the previous year. The jury consists of industry and Rystad Energy representatives.
Gullkronen 2017 will take place on Wednesday, 01 February 2017 at Wallmans Oslo, Norway.
Eight prizes will be awarded - four for E&P achievements, three for the oil service sector and an "Honour Award".